C Suisse fund suffers blow as Davos hotel goes bust

Hotel Reception

The Golden Egg, Davos’s newest luxurious hotel, was the place to be for the global elite at last year’s World Economic Forum, selling out all of its 216 rooms.

On one evening, Israeli Prime Minister Benjamin Netanyahu and his wife dined at its restaurant, while Tony Blair was having a grappa in the bar with a colleague, according to General Manager Peter Pedersen.

Bloomberg News reports that six months later, the five-star hotel’s management company went bust and its owner, a Credit Suisse fund, had to start picking up the pieces.

Despite its famous guests, which also included Goldie Hawn and Bono, and extensive research into the local market, InterContinental Davos was faced with empty rooms once the annual forum’s delegates went home.

To access the complete Bloomberg News article hit the link below:

Credit Suisse's Davos Disaster: From Grand Hotel to Big Bust in Six Months

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